Matters of Money

Credit cards, uses, benefits and how to take advantage of them

Credit cards are a financial instrument granted by banks to users who have capacity for their respective payment with a percentage of commission depending on their use.

Having one of them allows you to get out of trouble during difficult times if you don’t have savings. Although it has different utilities, its good use allows credibility with banks.

This type of financing implies and commits the user to pay what he has consumed, including paying his interest. If you are one of the people who use credit cards for daily consumption, you need one that has low commissions and has other benefits such as points, which in turn become a reward.

If you plan to opt for a credit card or already have one, follow these tips, which will help you make excellent use:

Pay at the moment: The banking entities register the behavior, so that in case of falling into default, it will be impossible to have an excellent credit history. Bank reputation is important because it opens the doors to grant you new credits.

Back up cash: Most cards have insurance against fraud, so that you are a victim of a computer crime, there are ways to prove it. If you use credit cards, you will have money back in the bank.

Greater control: The idea is not to spend by spending. If you have this financial instrument, you should keep a record of the consumption to know the existing limits, depending on the ability to pay.

Online transactions: All merchants currently use online payments, so you will save time in attending any of them. If you pay online, you will get numerous benefits.

Credit cards mostly come to relieve personal and family finances a bit, especially in those cases when income from work compensation is invested in everyday situations.